Banco do Brasil cuts outlook for fee income on Cielo partnership
RIO DE JANEIRO Feb 27 (Reuters) - Brazil's state-controlled commercial bank Banco do Brasil SA said on Friday it cut its outlook for fee income as a result of a partnership with Cielo SA, Brazil's largest credit and debt card operator.
Banco do Brasil expects fee income to grow 3 percent to 6 percent instead of the 7 percent to 10 percent it suggested in guidance for investors published on Feb. 11, the bank said in a securities filing.
The other forecasts published on Feb. 11 remain the same, the bank said. (Reporting by Jeb Blount)
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